An analyst, who has recently come to the fore with accurate Bitcoin (BTC) and altcoin calls, made new statements. Expert name Crypto Capo; DOGE addressed the owners of HT and MATIC. Here are the details…
Bitcoin analyst gives levels to watch for 3 coins
Crypto Capo has made a new analysis of cryptocurrencies. In his analysis, he included three altcoins. He first mentioned Dogecoin (DOGE), the biggest meme coin. He explained what will happen if the leading meme coin’s $0.15 support level is turned into resistance. The analyst says that after such a change, DOGE will lose about 90 percent of its value. Also, Capo shares a chart showing that DOGE lacks support on the wide timeframe until it hits its $0.01 target.
On the other hand, the crypto strategist touched on the price action of the layer-2 scaling solution Polygon (MATIC). According to Capo, MATIC is probably on its way to failing to surpass the $1.24 resistance. If this level is not exceeded, the coin is preparing for a collapse of 68.75 percent. Capo states that there is no support level until MATIC drops to $0.30.
Finally, Capo drew attention to Huobi Token (HT), the token of crypto exchange Huobi. According to Capo, HT’s chart has dropped below its diagonal support. It then turned the $10 horizontal support into a resistance level. Therefore, it is currently showing bearish signs. Capo even shared the HT chart, saying, “The HT chart looks ugly.” Looking at the analyst’s chart, he predicts HT to drop to $0.88.
Big capitulation expectation in the crypto money market
When it comes to crypto markets in general, Capo says he expects a brutal capitulation phase where altcoins lose 40-50 percent of their value on average. He also says that another step for Bitcoin (BTC) is imminent. He states that the $14,000 level in Bitcoin will come sooner than we expected. As it is known, Capo is one of the analysts who announced that he expects a decrease in BTC. In particular, the bankruptcy of FTX, one of the major exchanges in the crypto space, has caused a decline in the market.
Bitcoin, the largest cryptocurrency by market cap, has recorded lows it hasn’t seen in two years. At the time of writing, BTC is changing hands at $ 16,500. So Crypto Capo thinks that there is a high probability of BTC falling another $2,000.
Had many predictions
As Cryptokoin.com also reported, Crypto Capo is widely followed for its accurate predictions on the cryptocurrency market. Especially this year, he stood out for correctly predicting the cryptocurrency crash in June. That’s why Capo’s predictions are eagerly awaited, especially recently, with the bearish wave. Previously, the analyst predicted that BTC would drop to $50,000 in 2021. He also correctly guessed the drop in BTC to $ 3,500 about three years ago.
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